As part of a takeover offer, the Berlin online fashion retailer Zalando SE had already secured and announced the majority of the shares of the e-commerce group About You Holding SE as part of a takeover offer. On Monday, the company now announced the specific conditions and the schedule of the procedure.
According to this, the specially founded Zalando subsidiary ABYXZAL Holding AG, which claims to be around 91.45 of the ABOUT YOU Holding share, currently intends to offer the remaining shareholder: Inside the company in the course of the intended Squeeze-Out, a cash discharge of 6.50 euros per share.
The transfer of the corresponding shares should therefore be decided in an extraordinary general meeting of About You, which is expected to take place on September 22nd. Already for August 12, “the conclusion and notarial certification of a merger agreement between society and the Abyxzal Holding” was planned.
Zalando offers the remaining About-You shareholder: inside a cash compensation of 6.50 euros
Then the exam should be completed whether the severance payment offered is appropriate. “However, according to the ABYXZAL Holding, the legally appointed expert examiner has already promised that, according to the status, he will confirm the appropriateness of the defined cash compensation,” says a message.
The effect of the merging law Squeeze-Out is now “on the approval of the general meeting of the company and the entry of the transfer decision and the merger in the commercial register at the seat of the company and the entry of the merger in the commercial register at the seat of the Abyxzal Holding”, explained Zalando. The merger agreement will therefore include “the statement that the minority shareholders of the company should be excluded in connection with the merger”.